NADES: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
NADES
Largest movements
- Receivables within one year +€14,655
up €14,655 (+1640.5%), from €893 to €15,548
of which Trade receivables: +€15,548
- Cash +€12,311
up €12,311 (+29.9%), from €41,143 to €53,454
mainly Net result for the year (+€19,825) and Trade debts (+€5,911)
- Profit (loss) carried forward +€19,825
up €19,825 (+68.3%), from €29,046 to €48,872
- Trade debts +€5,911
up €5,911 (+295.0%), from €2,003 to €7,914
- Tax, wage and social debts +€2,250
up €2,250 (+27.6%), from €8,156 to €10,406
- Other debts -€1,657
no longer reported in 2025 (was €1,657)
- Gross operating margin +€6,577
up €6,577 (+27.5%), from €23,914 to €30,491
- Taxes +€1,560
up €1,560 (+35.8%), from €4,352 to €5,912
- Financial charges -€780
down €780 (-18.6%), from €4,188 to €3,408
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,362 | €69,692 | +€26,330 | +60.7% |
| Fixed assets | 21/28 | €1,326 | €689 | -€636 | -48.0% |
| Tangible fixed assets | 22/27 | €1,326 | €689 | -€636 | -48.0% |
| Plant, machinery and equipment | 23 | €592 | - | -€592 | |
| Furniture and vehicles | 24 | €733 | €689 | -€44 | -6.0% |
| Current assets | 29/58 | €42,036 | €69,002 | +€26,966 | +64.1% |
| Amounts receivable within one year | 40/41 | €893 | €15,548 | +€14,655 | +1640.5% |
| Trade receivables | 40 | - | €15,548 | +€15,548 | |
| Other amounts receivable | 41 | €893 | - | -€893 | |
| Cash at bank and in hand | 54/58 | €41,143 | €53,454 | +€12,311 | +29.9% |
| Total equity and liabilities | 10/49 | €43,362 | €69,692 | +€26,330 | +60.7% |
| Equity | 10/15 | €31,546 | €51,372 | +€19,825 | +62.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Capital | 10 | €2,500 | €2,500 | = | 0.0% |
| Issued capital | 100 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,046 | €48,872 | +€19,825 | +68.3% |
| Amounts payable | 17/49 | €11,816 | €18,320 | +€6,504 | +55.0% |
| Amounts payable within one year | 42/48 | €11,816 | €18,320 | +€6,504 | +55.0% |
| Trade debts | 44 | €2,003 | €7,914 | +€5,911 | +295.0% |
| Suppliers | 440/4 | €2,003 | €7,914 | +€5,911 | +295.0% |
| Taxes, remuneration and social security | 45 | €8,156 | €10,406 | +€2,250 | +27.6% |
| Taxes | 450/3 | €8,156 | €10,406 | +€2,250 | +27.6% |
| Other amounts payable | 47/48 | €1,657 | - | -€1,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €636 | = | 0.0% |
| Other operating charges | 640/8 | €641 | €839 | +€198 | +30.8% |
| Gross operating margin | 9900 | €23,914 | €30,491 | +€6,577 | +27.5% |
| Operating profit (loss) | 9901 | €22,636 | €29,016 | +€6,380 | +28.2% |
| Financial income | 75/76B | - | €129 | +€129 | |
| Recurring financial income | 75 | - | €129 | +€129 | |
| Financial charges | 65/66B | €4,188 | €3,408 | -€780 | -18.6% |
| Recurring financial charges | 65 | €4,188 | €3,408 | -€780 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €18,448 | €25,737 | +€7,289 | +39.5% |
| Income taxes | 67/77 | €4,352 | €5,912 | +€1,560 | +35.8% |
| Profit (loss) for the period | 9904 | €14,096 | €19,825 | +€5,729 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,096 | €19,825 | +€5,729 | +40.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.